Scorpio Tankers Secures Three-Year Charters on Three Vessels and Updates Q3 TCE Rates
STNG sits 64% above its 52-week low of $48.93.
Summary
Scorpio Tankers announced three new three-year time charter agreements and a Q3 2026 TCE rate update showing LR2 rates at $64,900 per day.
Key Events · Earnings and Guidance · STNG
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Three New Time Charter Agreements
STI Gladiator (LR2) is chartered at $40,188/day for 3 years, STI Jermyn (LR2) at $42,500/day for 3 years, and STI Pontiac (MR) at $23,900/day for 3 years. The LR2 charters commence in September 2026, while the MR charter begins in Q4 2026.
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Q3 2026 TCE Rate Update
LR2 pool/spot rates averaged $64,900/day with 85% of days covered, MR at $30,000/day with 79% coverage, and Handymax at $25,500/day with 70% coverage. LR2 rates are down from $80,000/day reported in June 2026.
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Diluted Share Count Estimate
Q3 2026 diluted weighted average shares outstanding are estimated at 54.5 to 55.5 million, reflecting the if-converted impact of the 1.75% Convertible Senior Notes due 2031 issued in April and May 2026.
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Revenue Visibility Through 2029
The three-year charters provide fixed revenue streams through 2029, reducing exposure to spot rate volatility for three vessels.
Analysis · STNG · Energy & Transportation
Scorpio Tankers has locked in three-year time charters for two LR2 tankers at $40,188 and $42,500 per day, plus one MR tanker at $23,900 per day, providing revenue visibility through 2029. The Q3 TCE update reveals LR2 rates at $64,900 per day, down from the $80,000 per day reported in June, signaling a softer spot market. Additionally, the company estimates diluted share count for Q3 at 54.5 to 55.5 million, reflecting the dilutive impact of convertible notes issued in April and May 2026.
How filings like this one have moved
In the 30 days to Sep 10, 2026, 29.9% of the 1988 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.12%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, STNG was trading at $80.20 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $4B. The 52-week trading range was $48.93 to $87.39. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.